ADR to be made more effective
Finance Minister AHM Mustafa Kamal has proposed to make alternative dispute resolution (ADR) process more effective.
"I propose to bring the pending cases of the High Court under Alternative Dispute Resolution in order to make the Alternative Dispute Resolution (ADR) process more effective," he told the parliament while placing the budget for FY2022-23.
He further said, "I propose to incorporate a provision to include 'Cost and Management Accountants' alongside 'Chartered Accountants' to assist in ADR."
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He also proposed to amend the law that no investigating agency can conduct any further investigation in the matter settled through ADR.
"At the time of audit, it becomes necessary to review the report of the Credit Rating Agency alongside the annual audit report. Therefore, I propose to incorporate a provision to include "Credit Rating Agency" in the relevant section to help VAT officers when necessary," he added.
The finance minister has placed Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.
This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.
The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.
